Hong Kong stocks slide after Xi-Trump meeting yields few surprises
Hang Seng Index surrenders earlier gains as sell-offs kick in after the meeting between the two state leaders
The Hang Seng Index fell 0.2 per cent to 26,282.69 at the close, reversing a gain of 0.9 per cent that at one point lifted the benchmark to a three-week high. The Hang Seng Tech Index dropped 0.7 per cent. Hong Kong’s market was shut for a holiday on Wednesday.
On the mainland, the CSI 300 Index slid 0.8 per cent and the Shanghai Composite Index lost 0.7 per cent.
Sunny Optical Technology Group, which makes camera modules for mobile phones, slumped 4.8 per cent to HK$76.95 and Budweiser Brewing sank by that much to HK$8. Biotech firm Wuxi AppTec retreated 3.7 per cent to HK$108.50 after a major shareholder revealed a plan to sell a stake on the Shanghai exchange. On the positive side, Meituan advanced 2.4 per cent to HK$102.40 on a plan to sell US$3 billion of dual-currency notes.
